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  • AMERICA'S CUP PROVING TO BE A TOUGH SELL TO SPONSORS

              American teams preparing for the 2000 America's Cup are
         in need of funding, according to CNBC's Susan Lisovicz. 
         Experts predict that should all six U.S. teams competing for
         the Cup make it to the qualifying round, it will cost "at
         least" $100M.  However, "not one U.S. corporation has yet to
         come aboard with a major sponsorship," with one reason for
         sponsor reluctance being that TV rights "have yet to be
         awarded."  One of the U.S. teams, Young America, estimates
         that it needs to raise $40M to reclaim the Cup from New
         Zealand.  While some companies previously associated with
         the event say they are "currently in talks," only Norwegian
         outdoor apparel maker Helly Hansen has committed to a
         sponsorship deal.  Jim Reilly, Marketing Director for Young
         America, says he is talking to a "who's who" of the Fortune
         500.  Reilly: "The theme of our marketing program is forget
         all of your romantic notions about sailing. This is about
         business; it's about branding" ("Business Insiders," 9/12).
    
    

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